NewsPour11.16.23
| Real Estate News Headlines Rise of Strip Mall Properties Loan Sale Reprices Commercial Real Estate Commercial Real Estate Q3 Commentary Rise of Strip Mall Properties Strip malls are rising in value. Suburban shopping habits have changed with more people working at least part time from home. People who previously drove straight to the office after school drop-off are now grabbing a coffee or running errands on their way home to hop on video calls. Others are visiting FedEx and UPS more frequently to mail back items bought online. The rise of food-delivery services has increased the desirability of retail that is close to the road and allows drivers quick and easy access. As a result, average-asking rents at U.S. convenience-store centers reached a record-high $20.37 a square foot in the third quarter, a 17.3% increase compared with the same period in 2019, according to CoStar Group. The rate of available space in strip malls also fell to 5.3%, representing the tightest level of supply on record. Annual visits to strip malls increased 18% last year compared with before the pandemic, according to retail and commercial real-estate data-analytics firm RetailStat.News commentary on YouTube video here. Loan Sale Reprices Commercial Real Estate |
| News Story on YouTube video here. Commercial Real Estate Q3 Commentary SelectFinCap partners discuss the state of commercial real estate in Q3 2023. Highlights of multifamily, office, industrial and retail sectors are covered. Despite challenges for office properties in technology hubs the third quarter witnessed positive developments particularly for retail properties in the sunbelt, industrial properties, including those linked to the reshoring trend, and multifamily properties in areas with strong demand and low supply of affordable housing options. Commentary on YouTube video here. |